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The First Rental
A practical guide to buying and managing your first rental, with a calculator workbook.
Get The First Rental — $89
Mortar & Key · The learning library
Real estate, explained in plain English.
Free guides, tools and courses for everyday people learning to buy, own and invest in property — one clear step at a time, around your day job.
Explore by topic
Start with the question on your mind.
Buying your first home
From saving a deposit to getting the keys.
Your first rental property
Understand the costs before you buy.
House hacking
A home for you, with space to rent out.
Financing & mortgages
Make sense of loans, deposits and rates.
Running the numbers
Look past the listing and check the math.
Being a landlord
The everyday work of owning a rental.
Renovations & repairs
Plan for the work a property needs.
Real estate terms explained
Less jargon. More understanding.
Latest free guides
All guides →5 min read
How a rental property actually makes money
Cash flow, loan paydown, appreciation and taxes — and why only one of them pays your bills.
Read guide →
6 min read
The cash you actually need for your first rental
The down payment is just the start. Closing costs, repairs and reserves come too.
Read guide →
5 min read
Five red flags in a deal that looks great on paper
Seller numbers, missing expenses, and returns that fall apart when one thing changes.
Read guide →
Free tools
All tools →A little learning, at your pace
Get one plain-English real estate lesson a week
Start with the free First Rental Checklist: what to have in order before you buy, and what to check on every property.
Weekly email lessons aren't available yet. This form opens the free checklist; it doesn't save your email.
Courses
Optional, deeper learning when you're ready.
Coming soon
House Hacking Basics
Learn the basics of living in one part of a property and renting out the rest.
Not available yet
Coming soon
Your First Year as a Landlord
A step-by-step introduction to tenants, maintenance and the everyday work of running a rental.
Not available yet
Common questions
What is Mortar & Key?
A friendly real estate learning library. You'll find plain-English guides, practical calculators and courses to help you understand buying, owning and investing in property.
Who is it for?
Everyday people with steady jobs who want to learn at their own pace. You don't need a property background or plans to become a full-time investor.
Is it free?
The articles, online calculators and First Rental Checklist are free. Paid courses are optional, with the price shown before you buy.
Is this financial advice?
No. This is education, not personal financial, legal or tax advice. Examples and calculator results are estimates. Speak with a qualified professional about your own situation.
Where should I start?
Choose a topic you're curious about, read a free guide and try a calculator when you want to explore the numbers. There's no need to buy a course to get started.